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TMI Blog2020 (7) TMI 374X X X X Extracts X X X X X X X X Extracts X X X X ..... any arguments. Such order cannot escape the scrutiny of the Court, while exercising the power of judicial review under Article 226 of the Constitution of India. Ext.P14 impugned order is set aside and the matter is remitted to the Office of the Commissioner of Income-tax (Appeals) - I, to consider the stay applications filed and pass detailed order, after affording opportunity of hearing to th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Management in equities of Indian Companies, apart from parking the funds in Bank accounts. 2. For the assessment year 2017-18, the petitioner submitted return showing total income and net tax payable. But the same was not accepted resulting into issuance of notice under section 143(2) of the Income-tax Act and after scrutiny of books of accounts, Ext. P2 assessment order dated 27-12-2019, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... before admission. 5. Adv. Sri. Navaneeth N. Nath for Sri. Jose Joseph, learned Standing Counsel accepts notice for respondents and submits that the other connected matters pertaining to disposal of the stay application by not demanding 20% of demanded amount, would not apply as they pertained to demand under section 80P of the Income-tax Act and do not deny the fact that there is no advertance ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Taking an overall view of the facts and circumstances of the case, further as per CBDT Instruction 1914 and O.M. Dated 31-7-2017, the appellant should pay 20% of the disputed demand immediately and pursue the appeal. Stay is granted for balance demand on the condition of payment of disputed demand till the decision of appeal. 7. Even the assessing officer had also referred to the Circular ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en noticed above, Ext.P14 impugned order is set aside and the matter is remitted to the Office of the Commissioner of Income-tax (Appeals) - I, to consider the stay applications filed along with Exts.P5 and P12 appeals in respect of assessment years 2017-18 and 2018-19 and pass detailed order, after affording opportunity of hearing to the petitioner. Let this exercise be undertaken within a period ..... X X X X Extracts X X X X X X X X Extracts X X X X
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